Stripe Financial Connections • Hacker News Board

Re: Stripe Financial Connections

#261

Post by FintechRisen » Fri, May 06, 2022, 9:40 PM UTC

iknowstuff wrote: post #63

edwinarbus wrote: post #55

Earlier quoted context omitted.

Edwin from Stripe here. Stripe does integrate directly with banks. In our beta period, most volume we’ve seen has been over bank APIs. Some banks do not have APIs—we use financial partners to connect with them, and we’re talking with many banks in hopes that they will enable direct API access soon. Our pricing is upfront: https://stripe.com/en-us/financial-connections#pricing . We’ve worked with a large beta group of…

Which banks have OAuth APIs? I would love to switch to one of those instead of exposing my password due to my bank's incompetence.

Different aggregators will have different connections established based on relationships and also the priority of the bank. I've seen a ton of different options based on the fintechs apps I use from Plaid, MX, Finicity, etc. Long story short, it's usually the big banks. Different aggregators have different priorities around the amount of traffic they send over these connections though. Candidly I don't know why that is, but I have some hypotheses. Ultimately though you can assume all of the above names will have accounts like Chase, Wells, Citi, Cap One, BOA, US Bank etc.

Re: Stripe Financial Connections

#262

Post by amonroe369 » Sun, May 08, 2022, 5:46 PM UTC

jeandenis wrote: post #241

amonroe369 wrote: post #234

Earlier quoted context omitted.

If I put up a captcha on my OLB/MB login portal, I can stop most plaid traffic because it appears as RPA activity, which would be screen scraping. AND we have one of those Bank API's built that those Plaid shills are talking about. Theres only two reasons Plaid would keep screen scraping. 1) They are still selling data to third parties or providing insights on data to third parties. 2) it is cheaper for Plaid to scre…

Plaid CTO here. This is not accurate. On 1. We do not (and have never) sell data to third parties. On 2. We have been a proponent of open authentication standards like OAuth and App2App and today, a majority of our bank connections run via bank APIs - in fact, as Zach pointed out, we’ve helped many financial institutions move towards OAuth. We don’t want to handle credentials in the long-term. However it will take ye…

Considering everything, Zach and Plaid had to walk back all of your BS about Stripe stealing everything. Under the hood, Plaid lost to MX and Finicity with Stripe, and then accused Stripe of impropriety. Stripe isn't a moral leader in this world by any means. Plaid though? You are even worse because you act smug as an organization.

There were whistle blowers in 2018 who said Plaid did sell data and I am not sure anything came of it. Why collect more information than necessary in your screen scraping? Something is not adding up.

Re: Stripe Financial Connections

#263

Post by seandoh » Mon, May 09, 2022, 4:26 PM UTC

ianstormtaylor wrote: post #238

seandoh wrote: post #235

Earlier quoted context omitted.

Plaid actually doesn't do investment account holdings well. My team tried using them for an app and ended up building our own API to address the problem https://realizefi.com/ . We provide real-time holdings, transactions, orders, historical performance (Plaid doesn't provide this at all), and balances.

Hey! Looks interesting. The two things that would hold me back from using it are (a) not enough institution support, for big places like Vanguard and Fidelity where many people have investments, and (b) no clear pricing structure listed that I could see, so I assume it’s going to be more expensive than Plaid.

Added our pricing page to the website - https://www.realizefi.com/pricing.html

Our Fidelity integration will be out by the end of this week.